I agree. Cash would probably be sufficient. When do you start school? a 9/1 start date seems awfully tight.
For a lot of us school ends late May/early June, then starts again late August, early September. Many PTOs seem to use July 1 as a start date, that gives a little cushion to close out the school year and any pending transactions. Audit the books and turn them over mid summer. Fiscal year starts a few weeks before school to coincide with expenses to kick off the year.
I don't know any PTOs that use accrual-based accounting. I don't believe that's a requirement anywhere, and it seems like overkill for PTO accounting needs.
